TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts March 24, 2019

New budget to cross Tk 5 lakh crore

Fiscal 2019-20’s budget is set to cross the landmark of Tk 5 lakh crore as the Awami League-led government, fresh from being elected to a third term, looks to scale up implementation of the mega projects announced in previous terms. According to the finance ministry’s preliminary projections, which were made in December last year, the upcoming national budget, due to be placed in the parliament on June 13, will likely be about Tk 5.23 lakh crore, up 12.50 percent year-on-year. Finance Minister AHM Mustafa Kamal has already held three pre-budget meetings with economists and parliamentary standing committees, while Prime Minister Sheikh Hasina has advised him to discuss different issues of the budget with his predecessor. As per a lead economist of World Bank’s Dhaka office, expectations will be high not just because it will be the new finance minister’s first budget but also because it will be seen as the first concrete manifestation of how the government will go about fulfilling the pledges made in its election manifesto.

Source: https://www.thedailystar.net/business/news/new-budget-cross-tk-5-lakh-crore-1719598

GSP Finance to issue Tk 2.0b bond

The board of directors of GSP Finance Company (Bangladesh) Limited has decided to issue coupon bearing bond worth Tk 2.0 billion. The company will issue the bond for seven years tenure in the name and style “GSP Non-Convertible Fully Redeemable Coupon Bearing Bond of Tk 2.0 billion” through private placement.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/gsp-finance-to-issue-tk-20b-bond-1553353965

Brac Bank, Bank Asia recommend dividend

The board of directors of two listed banks — Brac Bank and Bank Asia – have recommended dividend last week for the year ended on December 31, 2018. Brac Bank and Bank Asia both have recommended lower dividend in 2018 compared to the previous year. Brac Bank: The board of directors of Brac Bank has recommended 15 per cent stock dividend for the year ended on December 31, 2018. The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on April 30 at 10:00am at BRAC-CDM in Savar. The record date for entitlement of dividend is on April 11. The bank’s consolidated net profit stood at more than Tk 5.67 billion for the year ended on December 31, 2018 as against Tk 5.49 billion in the previous year. Bank Asia: The board of directors of Bank Asia Ltd has recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2018. The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on April 30 at 11:00am in Dhaka. The record date is on April 15. The bank has also reported consolidated earnings per share (EPS) of Tk 2.01, consolidated net asset value (NAV) per share of Tk 20.88 and consolidated net operating cash flow per share (NOCFPS) of Tk 3.15 for the year ended on December 31, 2018 as against Tk 1.90, Tk 18.85 and Tk 2.20 respectively for the previous year.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-bank-asia-recommend-div-1553353986

LNG boosts daily gas supply to 3.200 mmcf

The country’s overall natural gas supply crossed the 3,200 million cubic feet mark a day (mmcf), boosted by the imports of liquefied natural gas (LNG). The lone operational floating, storage, re-gasification unit (FSRU) is currently re-gasifying around 511 mmcfd equivalent of LNG, which is the highest quantity of LNG re-gasification from Excelerate Energy’s vessel at Matarbari in the Bay of Bengal. According to state-run Petrobangla, the total natural gas output was 3,204 mmcf per day, as of Thursday. Of the total output, local gas production companies produced around 1,035 mmcf or 31.8 per cent of the total daily output, international oil companies (IOCs) produced around 1657 or 50.8 per cent and the remaining 511 mmcf are re-gasified LNG. Gas-guzzling clients of Chattogram are the major consumers of re-gasified LNG. As per a senior official of state-run Gas Transmission Company Limited (GTCL), of the total re-gasified LNG, the Karnaphuli Gas Distribution Company Ltd (KGDCL), dedicated to supplying natural gas to the Chattogram region, has been taking around 320 mmcf a day, or 70 per cent of the total quantity. Some 150 mmcf per day equivalent of re-gasified LNG is being supplied to Titas franchise areas and the remaining 41 mmcfd to the Pashchimanchal Gas Company Ltd (PGCL). The country’s overall natural gas supply improved substantially with the start of full capacity re-gasification in the floating LNG terminal. Karnaphuli is not taking virtually ‘no gas’ from the main pipeline as it meets its requirement from the re-gasified LNG. Before supplying of LNG, the Karnaphuli took only around 230-250 mmcfd of gas from main pipeline, Bakhrabad-Fouzdarhat, for Chattogram consumers.

Source: http://today.thefinancialexpress.com.bd/first-page/lng-boosts-daily-gas-supply-to-3200-mmcf-1553359320

BMBA puts thrust on raising depth of stock market

The leaders of Bangladesh Merchant Bankers Association (BMBA) have stressed the need for proper utilisation of capital market in the country’s industrialisation and infrastructure development. They laid emphasis on the listing of multinational and local large companies to enhance the depth of the country’s capital market. They also demanded the government policy in favor of making the multinational companies listed in the stock exchanges. The BMBA leaders were speaking at its 14th annual general meeting (AGM) held on Saturday at a city hotel. The meeting was presided over by the BMBA president Mohammed Nasir Uddin Chowdhury. Khairul Basher Abu Taher Mohammed, secretary general of the association read out the notice of the 14th AGM. Members of the executive committee and the general members of the association also attended the meeting.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bmba-puts-thrust-on-raising-depth-of-stock-market-1553353886

Turkish Arcelik group buys Singer Bangladesh’s controlling stake for $75m

Turkey based home appliance manufacturing group Arcelik to acquire controlling stake of 57 per cent of Singer Bangladesh from Netherlands based Retail Holdings group for $75 million or around Tk 144 a share. As per a press release issued from Istanbul, Arcelik and Retail Holdings NV on Friday announced that they had signed an agreement under which Ardutch BV, a wholly owned subsidiary of Arcelik, would acquire Retail Holdings BV, which controlled 57 per cent of Singer Bangladesh shares, in a deal worth of $75 million. According to a Singer Bangladesh notice published on Friday, Ardutch will acquire 56.9 per cent or 4,37,07,183 shares of Singer from Retail Holdings. As a listed company, Singer’s rest of the 43 per cent shares are traded on the Dhaka and Chittagong stock exchanges with general investors holding 20.25 per cent shares, institutional investors 15.45 per cent and foreign investors 7.30 per cent shares. Based on the number of shares that Ardutch will acquire, it is estimated that the price of each share will be Tk 144 if exchange rate of US dollar is considered at Tk 84. The transaction will close in April.

Source: http://www.newagebd.net/article/68175/turkish-arcelik-group-buys-singer-bangladeshs-controlling-stake-for-75m

Construction of hi-tech park to begin in Khulna

Information and Communication Technology (ICT) secretary N M Ziaur Alam has said construction works of hitech park in Khulna will begin this year. As per the Minister, this in a views exchange meeting with the beneficiaries of IT capacity building project at Khulna Circuit House on Saturday. As per ICT secretary, hi-tech park will be implemented to fulfill dreams of educated youths of the region opening up opportunities for them to become self-reliant. There is no alternative except capacity building of youths in IT, he said adding that youths will lead the country to take forward IT sector in Bangladesh to make it as a develop country. ICT secretary emphasised the constant training of youth folks on ICT and asked the authorities for regular monitoring of trainees and maintain their database.

Source: http://today.thefinancialexpress.com.bd/country/construction-of-hi-tech-park-to-begin-in-khulna-1553352258

New Line Clothing’s IPO lottery draw today

The New Line Clothings will hold its initial public offering (IPO) lottery draw today (Sunday) to allocate 30 million ordinary shares among successful applicants. The lottery draw will be held at the Institution of Engineers, Bangladesh (IEB) in Dhaka at 10:00am and its results will be published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company. The company received applications for the initial public offering (IPO) from February 18 and March 03 to raise a fund worth Tk 300 million (30 crore) from the capital market under the fixed price method. The IPO was oversubscribed by nearly 28 times as the company received more than Tk 8.32 billion against IPO issue of Tk 300 million, according to Chittagong Stock Exchange (CSE). The securities regulator — Bangladesh Securities and Exchange Commission (BSEC) — approved the company’s IPO proposal on November 27, 2018.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/new-line-clothings-ipo-lottery-draw-today-1553353899

Get Together of business partners of EXIM Bank for Cumilla Region was held on Saturday

Get Together of business partners of EXIM Bank for Cumilla Region was held on Saturday at Magic Paradise Theme Park, Cumilla. Ranjan Chowdhury, Director of EXIM Bank, was present as the Chief Guest while Dr. Mohammed Haider Ali Miah, Managing Director of the Bank, presided over the programme

Source: http://today.thefinancialexpress.com.bd/stock-corporate/get-together-of-business-partners-of-exim-bank-for-cumilla-region-was-held-on-saturday-at-magic-paradise-1553353867

Gazprom to get lion’s share of energy exploration deals

The government has agreed, in principle, to offer seven deals to Russian oil giant Gazprom for energy exploration in both offshore and onshore blocks. These include exploration work in the Chittagong Hill Tracts under block 22, signing strategic agreement with Petrobangla, conducting 2D seismic survey in offshore blocks in the sea, conducting deep drilling in five points in the country. As per the senior Officials of Energy Ministry, the points comprise Srikail, Sunetra, Mobarakpur and Shailakupa, well drilling at the Bhola gas field, reserve evaluation work in Bhola gas field and drilling in Chatak gas field.

Source: http://today.thefinancialexpress.com.bd/first-page/gazprom-to-get-lions-share-of-energy-exploration-deals-1553358746

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,207.59 ↓147.72↓2.01%
Nikkei 22521,627.34↑18.42↑0.09%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 59.04↓0.94↓1.57%
Crude Oil (Brent) $ 67.03 ↓0.83 ↓1.22%
Gold Spot $1,313.68↑4.32↑0.33%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2505
GBP 1BDT 109.9120
EUR 1BDT 94.0572
INR 1BDT 1.2001





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited